The consumer price index is expected to register increases of 0.3% for both the all-items measure and the core measure, raising concerns about inflation and its impact on Fed policy.
The consumer price index will be released Wednesday morning and is expected to register increases of 0.3% both for the all-items measure as well as core.Markets have grown nervous about the state of inflation and how it will affect Fed policy.
The consumer price index, which measures costs for a wide-ranging basket of goods and services across the $27.4 trillion U.S. economy, is expected to register increases of 0.3% both for the all-items measure as well as the core yardstick that excludes volatile food and energy. North said he expects Fed officials to view the report pretty much the same way, backing up comments they've been making for weeks that they need more evidence that"Moving convincingly toward 2% doesn't just mean hitting 2% for one month. It means hitting 2% or less for months and months in a row," North said."We're a long way from that, and that's probably what's going to show tomorrow as well."in June 2022.
For their part, markets have grown nervous about the state of inflation and how it will affect rate policy. After scoring big gains to start the year, stocks have backed off over the past week or so, which have seenEarlier this year, traders in the fed funds futures market were pricing in the likelihood that the central bank would start reducing rates in March and continue for as many as seven cuts before the end of 2024.
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